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Deficit shrinks by $1 trillion in Obama era (2015)

12 pointsby hitrover 8 years ago

2 comments

sheriffover 8 years ago
This article is from 2015, and as a result, that is the last reported year.<p>I found a more up-to-date data set at <a href="http:&#x2F;&#x2F;federal-budget.insidegov.com&#x2F;" rel="nofollow">http:&#x2F;&#x2F;federal-budget.insidegov.com&#x2F;</a> which is consistent with the reported years, and includes both earlier years and an estimate for 2016. Unfortunately, it seems the deficit is growing again, with an estimate of -$616 billion for 2016.<p>It&#x27;s also worth looking at earlier years -- nothing before 2009 was higher than $464 billion. Looking at a longer timeline, it seems clear that the general trend is towards a bigger deficit, but the impact of the subprime mortgage crisis means we can play games with statistics by framing our timeline around that year.<p>This is similar to the trick used by Ted Cruz to argue against climate change, by insisting on presenting the data on an 18-year timeline, so that it would start in 1997 and include that year&#x27;s abnormally high temperatures caused by an El Niño weather pattern.<p><a href="http:&#x2F;&#x2F;www.cbsnews.com&#x2F;news&#x2F;fact-check-ted-cruzs-claims-about-climate-change-science&#x2F;" rel="nofollow">http:&#x2F;&#x2F;www.cbsnews.com&#x2F;news&#x2F;fact-check-ted-cruzs-claims-abou...</a>
compsciphdover 8 years ago
One can&#x27;t understand this without first understanding<p><a href="https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;United_States_debt-ceiling_crisis_of_2011" rel="nofollow">https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;United_States_debt-ceiling_cri...</a><p>and<p><a href="https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Budget_Control_Act_of_2011" rel="nofollow">https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Budget_Control_Act_of_2011</a>